Eisler Capital Management Ltd. Buys Shares of 15,803 Penske Automotive Group, Inc. $PAG

Key Points

• Eisler Capital Management Ltd. acquired 15,803 shares of Penske Automotive Group, valued at approximately $2,275,000, indicating growing institutional interest in the company.
• Penske Automotive Group recently reported earnings of $3.78 per share, beating expectations, but its revenue declined by 0.4% compared to the previous year.
• The company has initiated a $250 million share buyback plan and recently increased its quarterly dividend to $1.32 per share, reflecting confidence in its financial health.

Eisler Capital Management Ltd. acquired a new position in Penske Automotive Group, Inc. (NYSE:PAG - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,803 shares of the company's stock, valued at approximately $2,275,000.

A number of other large investors have also modified their holdings of PAG. Martingale Asset Management L P grew its stake in Penske Automotive Group by 3.7% during the 1st quarter. Martingale Asset Management L P now owns 1,750 shares of the company's stock valued at $252,000 after acquiring an additional 63 shares in the last quarter. State of Michigan Retirement System lifted its holdings in shares of Penske Automotive Group by 2.3% in the 1st quarter. State of Michigan Retirement System now owns 4,500 shares of the company's stock worth $648,000 after acquiring an additional 100 shares during the last quarter. Securian Asset Management Inc. lifted its holdings in shares of Penske Automotive Group by 7.4% in the 1st quarter. Securian Asset Management Inc. now owns 1,447 shares of the company's stock worth $208,000 after acquiring an additional 100 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of Penske Automotive Group by 31.0% in the 1st quarter. Fifth Third Bancorp now owns 528 shares of the company's stock worth $76,000 after acquiring an additional 125 shares during the last quarter. Finally, Pacific Global Investment Management Co. lifted its holdings in shares of Penske Automotive Group by 1.1% in the 1st quarter. Pacific Global Investment Management Co. now owns 11,953 shares of the company's stock worth $1,721,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 77.08% of the company's stock.

Penske Automotive Group Stock Down 0.5%

Shares of NYSE PAG traded down $1.01 during mid-day trading on Tuesday, reaching $183.40. The company had a trading volume of 44,306 shares, compared to its average volume of 238,089. The company has a current ratio of 0.90, a quick ratio of 0.21 and a debt-to-equity ratio of 0.16. The firm has a 50 day simple moving average of $177.66 and a two-hundred day simple moving average of $165.50. The stock has a market cap of $12.11 billion, a P/E ratio of 12.76 and a beta of 0.89. Penske Automotive Group, Inc. has a 52-week low of $134.05 and a 52-week high of $189.51.

Penske Automotive Group (NYSE:PAG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.56 by $0.22. Penske Automotive Group had a net margin of 3.13% and a return on equity of 17.43%. The company had revenue of $7.66 billion for the quarter, compared to the consensus estimate of $7.98 billion. During the same period last year, the firm posted $3.61 EPS. Penske Automotive Group's revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts predict that Penske Automotive Group, Inc. will post 13.86 earnings per share for the current year.

Penske Automotive Group announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 14th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its shares are undervalued.

Penske Automotive Group Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Friday, August 15th will be paid a $1.32 dividend. This is a boost from Penske Automotive Group's previous quarterly dividend of $1.26. The ex-dividend date is Friday, August 15th. This represents a $5.28 annualized dividend and a dividend yield of 2.9%. Penske Automotive Group's dividend payout ratio (DPR) is 36.74%.

Insider Transactions at Penske Automotive Group

In other news, CFO Michelle Hulgrave sold 1,100 shares of the firm's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $182.55, for a total value of $200,805.00. Following the completion of the sale, the chief financial officer owned 18,922 shares in the company, valued at approximately $3,454,211.10. This trade represents a 5.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisa Ann Davis sold 1,604 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $180.74, for a total transaction of $289,906.96. Following the completion of the sale, the director owned 1,529 shares of the company's stock, valued at $276,351.46. This trade represents a 51.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,862 shares of company stock worth $1,018,414. Company insiders own 52.40% of the company's stock.

Wall Street Analysts Forecast Growth

PAG has been the topic of a number of research reports. Morgan Stanley increased their target price on shares of Penske Automotive Group from $180.00 to $190.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. JPMorgan Chase & Co. upgraded shares of Penske Automotive Group from an "underweight" rating to a "neutral" rating and increased their target price for the stock from $155.00 to $175.00 in a report on Tuesday, August 5th. Citigroup increased their target price on shares of Penske Automotive Group from $185.00 to $195.00 and gave the stock a "buy" rating in a report on Monday, May 19th. Stephens reiterated an "equal weight" rating and set a $140.00 target price on shares of Penske Automotive Group in a report on Wednesday, June 11th. Finally, Bank of America increased their target price on shares of Penske Automotive Group from $190.00 to $205.00 and gave the stock a "buy" rating in a report on Monday, June 16th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Penske Automotive Group has an average rating of "Moderate Buy" and a consensus target price of $181.00.

About Penske Automotive Group

Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.